Naira weakens at interbank, investors’ forex windows

Naira weakened against the Dollar at both the interbank and Investors and Exporters (I&E) foreign exchange windows on Tuesday.
The currency depreciated 0.05 per cent at the I&E FX window also known as Nigerian Autonomous Foreign Exchange (NAFEX), having opened at N361.83, traded high at N363.00 and eventually closed at N362.11.
The Naira at the official rate closed at N306.95/$1 representing a 0.02 per cent depreciation as against Monday’s position.
Investors traded a total of $132.44 million was transacted through the I&E window.
The Naira remained stable at the parallel markets, as both the cash and transfer rates remained stable at N358.00/$ and N362.50/$ respectively.